Digital Asset Upgrade Does Not Result in Income Realization
A digital asset’s protocol upgrade from a proof-of-work to a proof-of-stake consensus mechanism did not cause a taxpayer to realize...
Business Standard Mileage Rate Increases for 2024
Feb 15, 2024
The IRS increased the optional standard mileage rate used to calculate the deductible costs of operating a vehicle for business...
IRS Announces Penalty Relief, Resumption of Collection Notices
Feb 12, 2024
The IRS announced Tuesday in Notice 2024-7 that it will provide about $1 billion in penalty relief to almost 5 million taxpayers...
Commercial Clean Vehicle Credit Safe Harbor Announced for 2024
Feb 8, 2024
The IRS on Wednesday provided a safe harbor under the Sec. 45W commercial clean vehicle credit for commercial vehicles placed...
Stock-Based Compensation: Tax Forms and Implications
Feb 1, 2024
Many companies provide stock (i.e., equity) compensation packages to employees. From an employer’s perspective, there are many benefits. First, it...
Recent Posts
- Business Standard Mileage Rate Increases for 2025 January 9, 2025
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- IRS will accept duplicate dependent returns submitted with an IP PIN December 19, 2024